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FICO vs. FAKO – Share your FAKO stories

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Newbie2018
Frequent Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Well I think I am in the right place. I subscribed $4.99 at Experian.com to get my scores. It said "true Fico 8 scores" but I was just told that they are fako so I'm lost
Message 261 of 338
Thomas_Thumb
Senior Contributor

Re: FICO vs. FAKO – Share your FAKO stories


wrote:

My EQ score provided by my EQ subscription has also become equal to the EQ score provided by myFico,  but I’ve never been sure that the score provided by EQ is truly a V3 score.

 

My TU scores provided on CK and TU subscription have always been identical, but the EQ subscription score has always been about 60 points less than the CK EQ score. And EQ has never been the same as the EQ on myFico, until last Oct. The two have been identical since.

 

Is it possible that EQ has begun providing FICO instead of whatever it was they were using previously?


Equifax provides a credit score based on their own internal model. They also offer a Classic Fico 04 score "mortgage score" called Scorepower. They don't provide VantageScore.

 

Their model's reported score range is 280 - 850. Example (from 2015) pasted below.

EQ credit score 2015.jpg

 

 

 

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 262 of 338
Anonymous
Not applicable

Re: FICO vs. FAKO – Share your FAKO stories

TU FICO (free from Discover) - 707

 

TU Vantage 3.0 (free from CreditKarma) - 681

 

Interesting that the FICO score came out higher.

Message 263 of 338
peacecindia
Established Member

Re: FICO vs. FAKO – Share your FAKO stories

Fico 8 Transunion on Bank of America credit card window. 

Message 264 of 338
Anonymous
Not applicable

Re: FICO vs. FAKO – Share your FAKO stories

To Newbie2018,

 

EX gives true FICO scores. TU gives Vantage 3. EQ gives whatever it is that they give, their own score. Not sure why EQ provides a one-off score.

Message 265 of 338
Anonymous
Not applicable

Re: FICO vs. FAKO – Share your FAKO stories

1 & 2. I get my FAKO score from Cap1 (TU), Credit Karma (TU, EFX) and at one point I tried a month of TU credit monitoring that provides the FAKO score.

 

3 & 4. I receive my FICO score from EXP.  I can retrieve it real time for a fixed cost.  I can pay extra for EFX or TU.  EFX and TU are FICO 8.  EXP is several models for general lending, automotive and credit cards, but no FICO 9.

 

I have worked in banking and FINTECH my entire career and am familiar with the different models and histories.  FAKO is useless and will remain that way unless lenders start to use it in rules, weighting or manual underwriting.  I hope that day never comes!

Message 266 of 338
Anonymous
Not applicable

Re: FICO vs. FAKO – Share your FAKO stories

I've signed up to several Fako services: Credit Karma, Credit Sesame, Nerd Wallet, etc.  They've all recorded my scores at 657 this month, but today, CK posted a rise to my EQ score to 659.  My EX score as provided by my credit union, however, is 707.  Not exactly apples to apples, but it's a ballpark comparison. 

Message 267 of 338
martinsoka17
Contributor

Re: FICO vs. FAKO – Share your FAKO stories

I have a pretty great example of how FAKO can be great for general monitoring, but bad for moving on up.

At this point in my credit rebuilding, I have the 3B monitoring from MyFico. I'm in it to win it. I also have CreditWise from CapOne, and Credit Karma because I like to play little experiments with these. My latest mad science forray involved paying off every single one of my credit cards except one (AZEO method). Once that reported, Credit Karma took me from a 746 (EX) to a 713. MyFico, on the other hand? I went from a 705 (EX) to a 750. CK will also ding me piddly points when the interest on my deferred student loans increases...usually 1-5 depending.

 

Meanwhile, CreditWise is just hanging out, sipping a latte and trying to apparently be BFF's with CK because it does whatever CK does.

Starting Score: 523

Current Scores: EQ: 705 TU: 757 EX: 764

Goal Scores: 800 across the board



in the garden until 2019!
Message 268 of 338
Anonymous
Not applicable

Re: FICO vs. FAKO – Share your FAKO stories

My first experience with FAKO was about 9 years ago. I had credit karma or free credit report.. I forget which one at the time and it told me my TU score was around 690. I went to the car dealership and tried to buy a truck with no luck. The finance guy explained to me that its a blended score and not a true number. He also told me he cant tell me how many people they had to turn down because everyone thinks their score is so much higher. Turns out my FICO 8 was 602. I was not a happy camper. Currently my FAKO TU is 645 but by FICO 8 is 631. Thats the only one thats higher. My EQ is about 30 points less per Credit Karma

Message 269 of 338
Anonymous
Not applicable

Re: FICO vs. FAKO – Share your FAKO stories

i recently xsfered balances to 2 new bt cards offering 0% intro. i wasnt aware of these forums and filled them both up putting them at 100% utilization with my daily driver pif  but always reporting 50-$70 balance due to items in pending transaction when statement cut. i lost nearly 100 points on all 3 ficos. ive since found this board and have now made sure to pay the daily driver (chase saphire) to 0 and let it mid cycle report that. within a day my tu and eq ficos gained 32 and 33 points respectively. my tu vantage according to ck and creditwise only gained 1 point. ive also paid off one of the 2 bt cards and paid the other one down to under 48.9% util so expecting big things come this next reporting cycle.

Message 270 of 338
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